Business
Acquisition at Covent Garden
Acquisition at Covent Garden.
About this update from Shaftesbury Capital Plc
[{"type":"text","content":"\n \nRNS Number : 3021Z Capital & Counties Properties Plc 14 December 2017 \n\n14 December 2017\n \nCAPITAL & COUNTIES PROPERTIES PLC (\"Capco\")\n \nAcquisition at Covent Garden \n \nCapital & Counties Properties PLC (\"Capco\") has acquired the long leasehold interest in 15-17 Long Acre & 27b Floral Street for £79 million before purchaser's costs. \nLocated at the western end of Floral Street, opposite the Floral Court development, the property benefits from dual frontage on both Floral Street and Long Acre and presents long-term asset management opportunities. \nThe property generates an annual rental income of £3.4 million across 42,600 square feet with 60 per cent of the income attributable to the retail space, which comprises 18,500 square feet, and the remainder of the space let as offices. \n Michelle McGrath, Director, Capco Covent Garden, commented:\n\"The purchase of this property is in line with Capco's strategy of acquiring prime assets at Covent Garden that offer the opportunity to create value. This acquisition expands our footprint in the area and further consolidates our presence on Floral Street where recent signings include Kent & Curwen and The Shop at Bluebird.\"\n-ENDS-\nEnquiries \nCapital & Counties Properties PLC:\n\n\n\n\nIan Hawksworth \n\n\nChief Executive \n\n\n+44 (0)20 3214 9188 \n\n\n\n\nSitul Jobanputra\n\n\nChief Financial Officer\n\n\n+44 (0)20 3214 9183 \n\n\n\n\nSarah Corbett\n\n\nHead of Investor Relations \n\n\n+44 (0)20 3214 9165\n\n\n\n\nMedia enquiries:\n\n\n\n\nSarah Hagan\n\n\nGroup Director of Communications & Marketing\n\n\n+44 (0)20 3214 9185 \n\n\n\n\nUK: Tulchan\n\n\nSusanna Voyle\n\n\n+44 (0)20 7353 4200\n\n\n\n\nSA: Instinctif\n\n\nFrederic Cornet\n\n\n+27 (0)11 447 3030 \n\n\n\n\nNotes to Editors\nAbout Capital & Counties Properties PLC (Capco):\nCapital & Counties Properties PLC is one of the largest investment and development property companies that specialises in central London real estate and is a constituent of the FTSE-250 Index. Capco's landmark London estates at Covent Garden and Earls Court were valued at £3.5 billion as at 30 June 2017 (Group share). The company is listed on the London Stock Exchange and the Johannesburg Stock Exchange.\nwww.capitalandcounties.com\nA...